HomeMy WebLinkAboutNotice of Unscheduled Vacancy IAC 2-9-24oF 0R''
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Investment and Audit Committee
NOTICE IS HEREBY GIVEN, pursuant to California Government Code §54974, that an
unscheduled vacancy exists on the Investment and Audit Committee due to the resignation of
Mike Ludin. The unexpired term ends on June 30, 2025. The successful appointee will be
required to file a Statement of Economic Interest (Form 700) within 30 days of assuming office.
In addition, AB1234 Ethics Education and AB1661 Sexual Harassment Avoidance Training
certificates are required.
The Investment and Audit Committee is an advisory committee that assists the City Council in
discharging its responsibility for the overall stewardship of the City's financial affairs, including
determining that the City's investments are consistent with the City's investment policy's principal
objectives of safety first, liquidity second, and total rate of return third.
Qualifications: The qualifications of the applicants for the citizen representatives will be reviewed
by the City Manager, the Finance Director, and an outside expert in finance, investments, or
auditing. Those candidates passing the qualification review process will be presented to the
Mayor. The citizen representatives must reside or be permanently employed in the City of
Orange. In addition, they must meet at least one of the following criteria: (a) have the designation
of Certified Public Accountant (CPA) or other business-related experience; and/or (b) have
substantial education and demonstrated managerial experience [of no less than five years] in
one or more of the following areas: investment banking, investment brokerage and sales,
investment management, financial management and planning, or commercial banking. No
member of the Committee shall be financially interested in any contract, or otherwise conduct
any business with any member of the City Council, the City Manager, the Finance Director, the
City Treasurer, or the City or any of its agencies, either on an individual basis or as a partner,
major shareholder, member, or employee of any firm.
Meetings: Held quarterly on the fourth Wednesday of January, April, July, and October at 3:00
p.m. in the Weimer Room.
Application Deadline: Open until filled. In accordance with Govt. Code 54974, final appointment
to the board shall not be made by the City Council for at least 10 business days after the posting
of this notice.
Applications are available on the City of Orange website at www.cityoforange.org. For further
information, please call the City Clerk's Office at (714) 744-5500.
Pamela Coleman, CMC
City Clerk
I, Pamela Coleman, City Clerk of the City of Orange, California, do hereby certify that the above Notice
of Vacancy was posted in accordance with Section 54974 of the Government Code on February 9, 2024.